Are business owners exempt from minimum wage laws and overtime?

Are business owners exempt from minimum wage laws and overtime?
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1 Answer

Answer :

You could just make them all salary positions. OT goes away. But typically, businesses (especially small businesses) just make jobs part time to minimize payroll expenses. I would hesitate to make all employees part owners because of the headaches you would have later on. If you make me a part owner and I decide I no longer want to work at that job, now I am entitled to a percentage of the value of the business. And realistically, as soon as you sign the papers making them part owners, they could walk and you would owe them.
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